Chile high court paves way for $2.3 billion project by Copec unit

SANTIAGO (Reuters) - Chilean forestry company Arauco, a subsidiary of industrial conglomerate Empresas Copec, won a court case that will allow it to go forward with a $2.3 billion investment, the Supreme Court said on Tuesday.

The court said in a statement it had thrown out an injunction request against the so-called MAPA project presented by an indigenous group, which argued it had not been sufficiently included in the planning process.

In a unanimous ruling, the Supreme Court found that the group bringing the suit had been consulted sufficiently.

With the MAPA project, Arauco is looking to triple its annual cellulose production to 2.1 million tonnes. The project obtained environmental approval in 2014, but had been tied up in court since.